May 01,2023

Wyden Statement on Avoiding Default

Washington, D.C. — U.S. Senator Ron Wyden, D-Ore., today issued the following statement after Treasury Secretary Janet Yellen notified Congress that the U.S. could default as soon as June 1st:

“A catastrophic default that would wipe out millions of jobs and crater the American economy is potentially just weeks away, and it’s a crisis manufactured by House Republicans. With Republicans openly admitting they’ll never support anything less than the ransom note they passed last week, not even a bipartisan compromise, it’s clear this has never been a serious negotiation. It is entirely about holding our economy hostage.

“Everybody understands that in a divided Congress there will be disagreement and debates on fiscal policy, but there cannot be any debate that risks default. The clear path to protect our economy and the millions of jobs Republicans are putting in danger is a clean bill to avoid default, just like the bills Republicans and Democrats passed together during the Trump administration.”